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    <h2>3)Principles of Fair Information Practices (FIPs)</h2>
<p>With the shift from industrial manufacturing to knowledge creation and service delivery, 
the value of data as an asset class has grown dramatically. So too has the need to manage data 
responsibly. The collection, use and disclosure of personal data entails a special duty of care. 
Fortunately, data privacy requirements can be expressed as universal principles of fair information 
practices (FIPs), which seek to ensure that the privacy rights of individuals are addressed where the 
data is transferred. Although voluntary, FIPs are commonly referenced in privacy protection laws, codes, 
policies, practices, and norms. These principles usually apply to organizations, but there has been growing 
interest in applying them to information and communications technologies, and larger personal data ecosystems. </p>
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